MakeMyTrip Limited $MMYT Shares Acquired by Ninety One North America Inc.

Key Points

• Ninety One North America Inc. increased its stake in MakeMyTrip Limited by 6.1% during Q2, holding approximately 202,881 shares valued at $19.89 million.
• Recent analyst ratings show a shift, with Wall Street Zen upgrading MakeMyTrip from a "sell" to a "hold" and Macquarie rating it "outperform" with a price target of $110.00.
• MakeMyTrip's stock has a current market cap of $10.41 billion and its price-to-earnings ratio is at 108.84, reflecting investor interest despite a recent 0.5% decrease in share price.

Ninety One North America Inc. grew its stake in MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 202,881 shares of the technology company's stock after purchasing an additional 11,672 shares during the period. Ninety One North America Inc. owned approximately 0.18% of MakeMyTrip worth $19,886,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of MakeMyTrip by 9,724.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company's stock valued at $2,364,732,000 after purchasing an additional 23,886,735 shares during the period. Baillie Gifford & Co. grew its holdings in MakeMyTrip by 40.0% during the first quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock worth $505,158,000 after acquiring an additional 1,471,660 shares during the period. New Vernon Capital Holdings II LLC grew its holdings in MakeMyTrip by 9,699.0% during the first quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company's stock worth $503,992,000 after acquiring an additional 5,090,811 shares during the period. GQG Partners LLC grew its holdings in MakeMyTrip by 273.2% during the first quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company's stock worth $196,911,000 after acquiring an additional 1,470,985 shares during the period. Finally, American Century Companies Inc. grew its holdings in MakeMyTrip by 5.2% during the first quarter. American Century Companies Inc. now owns 1,336,008 shares of the technology company's stock worth $130,915,000 after acquiring an additional 66,614 shares during the period. Institutional investors and hedge funds own 51.89% of the company's stock.

MakeMyTrip Stock Down 0.5%

MMYT opened at $93.60 on Wednesday. The business's fifty day moving average is $98.02 and its two-hundred day moving average is $99.16. The company has a debt-to-equity ratio of 18.35, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 108.84 and a beta of 0.87. MakeMyTrip Limited has a one year low of $81.84 and a one year high of $123.00.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MMYT shares. Wall Street Zen raised MakeMyTrip from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Macquarie raised MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective on the stock in a report on Tuesday, June 24th. Finally, Citigroup dropped their price objective on MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $120.00.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.

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